Ownera, working with JP Morgan (NYSE:JPM) and HQLAx, has announced an intraday repo solution that reportedly transacted $5 billion in trading volume in its first month of operation.
In a release, Ownera said that its technology operates as a universal translator for dispersed ledger platforms, enabling them to communicate seamlessly. The company claims that its service unlocks a process for “industry-wide distribution of digitized and tokenized assets.”
The service is said to handle various vertical,s including stablecoins, CBDCs, and tokenized deposits. Dan Phillips from JPM said the Ownera offering is a “key utility to enable meaningful growth in the institutional DLT ecosystem.”
Alon Goren of Draper Goren Blockchain and an Ownera Board Member said seeing the $5 billion in volume validates everything they have believed about institutional interest in this new infrastructure.
“This isn’t theoretical anymore, we are witnessing the real-time evolution of financial infrastructure,” said Goren.